XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) Trading Down 0.4% – Here’s Why

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT)’s stock price traded down 0.4% during mid-day trading on Wednesday . The stock traded as low as $19.39 and last traded at $19.4250. Approximately 93,807 shares traded hands during trading, a decline of 11% from the average daily volume of 105,681 shares. The stock had previously closed at $19.51.

XAI Octagon Floating Rate & Alternative Income Trust Trading Down 0.4%

The firm has a 50-day moving average of $18.92 and a two-hundred day moving average of $18.13.

XAI Octagon Floating Rate & Alternative Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a $0.225 dividend. The ex-dividend date is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 13.9%. XAI Octagon Floating Rate & Alternative Income Trust’s dividend payout ratio is currently 517.24%.

Institutional Trading of XAI Octagon Floating Rate & Alternative Income Trust

Institutional investors have recently made changes to their positions in the stock. Sit Investment Associates Inc. boosted its holdings in XAI Octagon Floating Rate & Alternative Income Trust by 112.4% in the 4th quarter. Sit Investment Associates Inc. now owns 5,467,565 shares of the company’s stock valued at $26,244,000 after purchasing an additional 2,893,917 shares during the period. Landscape Capital Management L.L.C. lifted its stake in shares of XAI Octagon Floating Rate & Alternative Income Trust by 90.9% in the fourth quarter. Landscape Capital Management L.L.C. now owns 512,317 shares of the company’s stock valued at $2,459,000 after buying an additional 243,925 shares during the period. Closed End Fund Advisors Inc. bought a new position in XAI Octagon Floating Rate & Alternative Income Trust during the fourth quarter valued at about $1,118,000. Alpine Global Management LLC acquired a new position in XAI Octagon Floating Rate & Alternative Income Trust in the 4th quarter valued at approximately $129,000. Finally, J.W. Cole Advisors Inc. lifted its position in shares of XAI Octagon Floating Rate & Alternative Income Trust by 3.8% in the 4th quarter. J.W. Cole Advisors Inc. now owns 451,667 shares of the company’s stock worth $2,168,000 after acquiring an additional 16,327 shares during the period.

XAI Octagon Floating Rate & Alternative Income Trust Company Profile

XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT) is a non-diversified, closed-end investment company focused on generating current income and, secondarily, capital appreciation. The trust invests in floating-rate and alternative credit assets rather than operating a traditional business or selling products and services.

Its portfolio may include collateralized loan obligations (CLOs), senior secured loans, and other floating-rate debt instruments, as well as below-investment-grade credit securities.